New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-07-03
SOME OFF L. HARPERS FITANCERING.
Fyou IN. Cincinnati Commercial Gos.,ts.

Tho young sewing machine agent having become
non brOAer he was able to set ON the ilsht shie o
the memorable pig iron boom oil that stIring year
1870 and when prices again ebDea PACK 10 u
minimum il LETT Harper wealthy man lew years ears
and steel Works, controlling and owhIn9 Inc Ne"PVI.i
(,yJ rolling mill TO this acquisition he soon added
There Icing no more mills to conquer, the young
Napoleon of pig iron, blooms, steel rails ana oolicf
mates became res Less unler the hunmrum prospect
OF slowly and surely getting wealth IN The Iohe vi
business. 1t was then that his nerve and fearless
NJ n speculaIor made him famous In 1882, with
Truman b. Handy, Harper being the active spirit,
cheat corner was made In Chicago The corner was
SO cleverly constructed, darngiy maintained and
SO elecately manipulated that lt squeezed million
DO lars ont Of the pockets OF the chicago shoits
aod shafps-squeeLed them dry and left them 80
high that they have never since forgotten or forgiven
tho leading spirit in the squeeze -,
uaroer quit that little deal In grain some hall
mlllon dollars ahead. Not so fortunate though was
no in another S Ges b IN W r to sos the Chicago
Grain sharps but they turned tho tables reversed the
10 had succeed Them the year OF 652 The squeeze
not dry one though as down doT a ap ii. 70 iS
Who were compelled by tho courts TO hold an a"iuiy
h'S 1Se emo end Of the bag they held was lifted slightly
when Harper gave them some railroad bonds inc
honds looned pretty from tho standpoint of an en-
10 6snSs Tho bonds those OF the Cincinnati,
Columbus and Hooking Valley rold small line WIN
Dig name running iSw egSt miles In length
Srashopper road that wall street calls two streaks
o rust and mortgage 1heSo oor,S "V.C eiNon ~
Jouer to his brokers' in payment OF the balance they
h'' tia'5er obtained tho road in payment for rails
rhich he furnished from his rolling mills Inc road
was unable to pay and the ioinhg mii PioPrletols
foreclosed on It, couple Of months ago Phn hrnour
M bg nork man, muchy interviewed Chicagoan,
ned 10 get some money out OF 1t by tearing up tho
,ans ana selling them to a Junk shop inc farmers
lag tho lne though, enjoined him In the courts
Tho road Isn't as great one a. the Penhsy Wv ana,
hut In TIA simple, unassumlng, agricultural way us
y d,isv IL boasts OF one locomotive, with dilap-
1,tcd boiler falsetto whistle, the whole thing NOT III
, running order 1t Is also fitted with two PASSENGER
c"aehes excellently fitted for the purpose Of a sum,
ner hen house anl half dozen fiat cars, Just gooa
nough TO haul tho iron rails 10 Chcago,tnat Is, IL
NH Armour ever gets a dark enough ngnt 20 o'""o
No vigilance of tho farmers ana pun tnem up "A
when Harper obtained the road 1t had been washed
Nom the shore financial wreck, because OF its naou
Nv 10 paw for tho rails and right OF way. 10y ons
~ brilliant scheme OF finance and an engravlng
VaS On ~ 100000 worth OF income bonds were
mt on top of that as an anchor anu tnen 70 mahe
10 thine bowling go In Wall Street way, STOCK 10
he amount of 100000 moro was piled on Then ~
W tho balance on the wheat deal IL was cold day.
put Harper didn't got left Phil Armour with an
his mIlons and shrewdness was left TO hold the bag
~" After this brilliant financial coup Getat Harper
Thrd National when things became burdeinsopo
in the latter he won't into the Fidelity 70 which ne
devoted his entire time. his iron Interests being
managed by his private secretary iaithiu,, prgnS
t%enHvsl things went along with Harper until tho
crash insJune wheat busted things and made chicago
morn The Nav deal o. the Cincinnati clique was sue
hus,e On tifteon millions OF May wheat which they
succeeded In holding M" THIS neat ei'ue Pron ms
80 a, 600 900 was dumred in the effort to corner Juno
wheat and with the dump went the Fhelity